The EUR/USD pair is highly recommended for traders who are only beginning to trade Forex. It trades easily by retail traders as well as by Central banks and financial institutions around the world.
The most active trading sessions takes place in London and New York and the most commonly used EUR/USD Forex charts are the Daily, 4 Hour and 1 Hour charts. The traders at Daily Forex will post the latest Euro to US dollar forecasts and will keep you totally updated regarding EUR/USD trading.
EUR/USD receives additional interest from volume generated by the Euro-crosses (e.g. euro/British pound (EUR/GBP), EUR/CHF and EUR/JPY. This interest tends to be contrary to the underlying U.S. dollar direction, making it an attractive market for short-term traders.
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The euro rallied during the trading session but was very volatile, which would be expected on a day when the Federal Reserve and stimulus talks are going on simultaneously.
The EUR/USD pair may maintain its recent gains pending the monetary policy decisions from the US Federal Reserve, which will be announced later on Wednesday.
The euro initially fell during the trading session on Tuesday but turned around to show signs of strength again as we approach the 1.2150 level.
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Similar to last week’s performance, the EUR/USD pair completed the upward correction, which is the closest to the last resistance level of 1.2177, its highest since April 2018.
The euro rallied during the trading session on Monday but gave back the gains near the 1.2175 handle, forming a shooting star.
During last week’s trading, we noticed a strong struggle between bulls and bears in determining the path for the EUR/USD pair, which closed the week’s trading around the 1.2112 level.
The euro initially tried to rally during the course of the session on Friday but gave back the gains as we continue to see negativity surrounding the Brexit talks.
The euro has continued to show signs of strength during the trading session on Thursday as there was a European Central Bank meeting and announcement.
For five trading sessions in a row, the EUR/USD pair has been subjected to profit-taking selling operations.
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The euro initially tried to rally during the trading session on Thursday as we continue to see bullish pressure, but did give back some of the gains to show that perhaps gravity is coming back into vogue.
Recent profit-taking sales pushed the EUR/USD towards the 1.2080 support.
The euro initially tried to rally during the trading session on Tuesday but gave back the gains to form a shooting star.
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In recent technical analyses of the EUR/USD, we noted that recent gains pushed the technical indicators into overbought areas.
The euro fluctuated during the trading session on Monday, as we continue to see a lot of volatility around the Brexit negotiations.
The EUR/USD pair's correction gains culminated upwards by testing the 1.2177 resistance, the highest for the currency pair since April of 2018, before closing the week’s trading and stabilizing around 1.2120.